Cloudwatt was a core initiative of Project Andromède, one of France's periodic attempts at building a local computer industry.
[1][2] The launch of Cloudwatt was a part of the Andromède project initiated in 2009 to promote France in the cloud computing market.
[3][4] Cloudwatt was established on September 6, 2012 as a subsidiary of Orange S.A., with the government of France and French military contractor Thales as secondary shareholders.
[10] The company developed a Dropbox-like storage service targeting small businesses and organizations, which was advertised on TV in 2013.
[18][19][20] Cloudwatt had a capital of 225 million euros with the distribution of funds as follows: 44.4% for Orange, 22.2% for Thales, 33.3% for Caisse des Dépôts.